Dorman co. sold merchandise to smith co. on account 18000, Ask an Expert

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Dorman Co. sold merchandise to Smith Co. on account, $18,000, terms 2/15, net 45. The cost of the merchandise sold is $15,500. Dorman Co. issued a credit memo for $1,750 for merchandise returned that originally cost $1,400. The Smith Co. paid the invoice within the discount period. What is amount of net sales from the above transactions?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M942393

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